I think of it of a demand/supply balance where it seems as thought price is equaling the value in the assets. However, I still think that most of the demand and thus value is speculation which could change the balance quickly if fundamentals fail.
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That is exactly what it is. The demand and supply finally are in balance for a period of time. Though, some new development or news release often changes that balance rather quickly.
Volume of traders in the market is extremely low. They are waiting for bitcoin to break out of the descending triangle it has been in since the start of the year. Nobody knows what it will do, so everyone is waiting.
There is likely a lot of truth to that. Everyone is waiting for bitcoin to pick a direction before piling in one way or the other.
Volume of traders in the market is extremely low. They are waiting for bitcoin to break out of the descending triangle it has been in since the start of the year. Nobody knows what it will do, so everyone is waiting.